Why the #Swiss #CentralBank and #Government Campaigned Against It | Global #Research - Centre for Research on Globalization

#Islam #islamicfinance #Islamic #banking #islamicbanking #economy #world #finance #Russia #USA #Britain #China #recession #meltdown #economicrecession #money #currency #economics #financial #financialrecession #crash #global #Vatican #Australia #interest #compoundinterest #india http://www.globalresearch.ca/the-swiss-national-bank-snb-and-the-save-the-gold-of-switzerland-initiative/5418622Share via Onlineislamicfinance.comWith the abolition of the gold standard in 1971 by then President Nixon, dollar denominated reserves in the coffers of the world were no longer directly convertible into gold. The agreement of the 1944 established so-called "Bretton Woods System" was therefore broken, opening the way for free floating fiat currencies – free to be printed at will without any backing of gold or a country's economic output. The fiat system remains in pl…